38 U.S.C. § 1928 — Authority for payment of interest on settlements
submitted 38 years ago by Pub. L. 100-687 to r/title-38-VETERANS-BENEFITS · 129 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
Subject to subsection (b) of this section, the Secretary* may pay interest on the proceeds of a participating National Service Life Insurance*, Veterans’ Special Life Insurance, and Veterans Reopened Insurance policy from the date the policy matures to the date of payment of the proceeds to the beneficiary or, in the case of an endowment policy, to the policyholder.
The Secretary may pay interest under subsection (a) of this section only if the Secretary determines that the payment of such interest is administratively and actuarially sound for the settlement option involved.
Interest paid under subsection (a) of this section shall be at the rate that is established by the Secretary for dividends held on credit or deposit in policyholders’ accounts under the insurance program involved.
Source credit: (Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(1), Nov. 18, 1988, 102 Stat. 4128, § 728; renumbered § 1928 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
- 1988Enacted · Pub. L. 100-687 · 102 Stat. 4128
- 1991Amended · Pub. L. 102-83 · 105 Stat. 404
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-687 on 1988-11-18.
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